Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has been asked to hand over following a minor cabinet reshuffle approved by President Bola Ahmed Tinubu.
According to a memo signed by the Secretary to the Government of the Federation, George Akume, Edun and the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, are to leave the Federal Executive Council (FEC), with their replacements already named.
Edun has been directed to hand over to Taiwo Oyedele, who was previously Minister of State for Finance and will now assume office as Minister of Finance and Coordinating Minister of the Economy.
Similarly, Ahmed Musa Dangiwa has been directed to hand over to Muttaqha Rabe Darma, who has been named as ministerial nominee and minister designate for the Ministry of Housing and Urban Development.
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A statement issued by Yomi Odunuga, media aide to the SGF, confirmed that both outgoing ministers have been instructed to complete the handover process.
The memo stated that “all handing over and taking over processes should be completed on or before close of business on Thursday, 23rd April, 2026.”
The memo did not indicate the future roles of the outgoing ministers.
Explaining the decision, Akume said: “These changes are aimed at strengthening cohesion and synergy in governance, as well as achieving more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda.”
He added that the President exercised his powers under Sections 147 and 148 of the Constitution of the Federal Republic of Nigeria (1999, as amended) in approving the reshuffle.
President Tinubu thanked the outgoing ministers for their service and wished them well in their future endeavors. He also assured cabinet members that “the process of reinvigoration shall be continuous.”
Wale Edun
President Bola Tinubu appointed Wale Edun as Minister of Finance and Coordinating Minister of the Economy in 2023.
Edun previously served as Lagos State Commissioner for Finance under Tinubu during his tenure as governor of Lagos State.
He is an experienced financial expert with a strong background in merchant banking, corporate finance, economics, and international finance, with exposure at both national and international levels.
Edun obtained his Bachelor’s degree in Economics from the University of London and went on to earn a Master’s degree in Economics from the University of Sussex, England.
Before his ministerial appointment, he was the Chairman of Chapel Hill Denham Group, a leading investment bank in Lagos. He also previously served as an Executive Director at the former Investment Banking & Trust Company Limited, now Stanbic IBTC Bank.
Taiwo Oyedele
Meanwhile, Taiwo Oyedele was appointed by President Bola Ahmed Tinubu as Minister of State for Finance.
The former Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms succeeded Doris Uzoka-Anite in the Ministry of Finance.
In July 2023, Tinubu appointed Oyedele, a fiscal policy partner and Africa Tax Leader at PricewaterhouseCoopers (PwC), to chair the Presidential Fiscal Policy and Tax Reforms Committee.
The 50-year-old Oyedele is a public policy expert, accountant, and economist.
He attended Yaba College of Technology, where he obtained a Higher National Diploma (HND) in Accountancy and Finance. He later earned a BSc in Applied Accounting from Oxford Brookes University.
Oyedele also attended several executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.
He worked for several decades with PwC, where he began his career in 2001 and rose to become a fiscal policy partner.
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